Big companies pay millions to understand their young employees.
Large companies are confused by millennials, and they’re willing to pay big money to try to understand them.
Intergenerational consulting, a business that barely existed just a few years ago, has had a meteoric rise. As the Wall Street Journal reports, people who were born in the 1980s and 1990s now comprise the largest portion of the nation’s workforce, so executives turn to so-called “millennial experts” to learn more about them.
These intergenerational consultants are hired by companies like Goldman Sachs GS 0.61% , Coca-Cola KO 0.05% , Oracle OCLCF -4.97% , and countless others. They earn as much as $20,000 an hour to teach managers and executives how to effectively communicate with millennial-age employees, and how to keep them happy and engaged in the workplace. According to consulting market tracker Source Global Research, U.S. companies allocated between $60 million and $70 million last year to this cause.